At exactly 9:30 a.m. on Thursday, as the opening bell rang at the Nasdaq, roughly 7 million shares of SpaceX changed hands. The trade was cleared overnight at about $107 a piece, worth some three-quarters of a billion dollars, shares that would never really touch the open market.
That singular crossing is, in microcosm, the story of how SpaceX’s most telegraphed selling event turned out to be far less dramatic—and even more positive—than the buildup suggested.
